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| Islamic Banking » Investment Schemes » Hire Purchase Shirkatul Melk (HPSM) |
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| Hire Purchase Shirkatul Melk (HPSM) |
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| Terms and Conditions |
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Specific papers/documents on the basis of the type of the customer. |
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Photograph of Account holder is required. |
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Specimen Signature is required. |
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Introducer required. |
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Nominee required in case of individual. |
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Initial Deposit not compulsory. |
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HPSM Investment to Commercial and Industrial undertaking in the form of Land, buildings, flats, commercial buildings, machineries, air conditioners, equipments (Lift & Elevators), transports, vehicles etc. |
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HPSM Investment to Agriculture in the form of agricultural equipments, machineries, shallow tube wells, deep tube wells, tractors, trailers, etc. |
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HPSM Transport in the form of Transport Bus, Car, Taxi, Launch, Cargo, Vessel, etc. |
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HPSM in the form of Home Appliances and transshipment carriers etc. Hospital equipments, ambulance etc. |
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| Eligibility |
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Individual (Adult). |
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Sole trader ship Firm. |
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Partnership Firm. |
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Joint Stock Company. |
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Non Trading Concern (Club, Society etc). |
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Govt./Autonomous Bodies. |
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NGOs. |
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| Benefits/Features |
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Investment will be given and invested According to Shariah principles |
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In Hire Purchase under Shirkatul Melk Agreement, the exact ownership of both the Hire (Bank) and Hirer (Client) must be recognized |
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As the ownership of hired portion of the asset lies with the Hire (Bank) and rent is paid by the Hirer (Client) against the specific benefit, the rent is not considered as price or part of price of the asset |
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Multiple Account May be allowed if sanctioned by the Authority |
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Joint Account Allowed |
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No Closing Charge |
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Compound profit with quarterly rest |
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Quarterly profit application in March, June, September and December each year |
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Withdrawal Frequency Random by the Customers within the sanctioned limit. Excess over the limit may be allowed by the competent authority |
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No profit on credit balance. Interest to be recovered for debit balances only. Daily product basis. |
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| For any query please Contact at: Tel: (PABX) 9551614 FAX: 880-2-9564009 or e-mail us at gsdd@pubalibankbd.com |
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| Foreign Currency Rates |
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| Currency |
Buying |
Selling |
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| USD |
108.50 |
108.90 |
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| EURO |
118.60 |
122.20 |
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| GBP |
133.85 |
139.25 |
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